Cash Price Of Japanese Primary Copper Sees Small Price Drop

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With a decline of two percent to JPY 640,000 ($7,975) per metric ton on May 18, 2012, the cash price of Japanese primary copper recorded the biggest shift of the day. The price of US copper producer grade 110 fell 0.2 percent to $4.11 per pound. The price of US copper producer grade 102 declined 0.2 percent to $4.30 per pound. The price of US copper producer grade 122 flattened at $4 following two-days of declines.

Chinese copper prices were mixed for the day. The price of Chinese bright copper scrap fell 0.7 percent to CNY 48,550 ($7,675) per metric ton. Chinese copper wire saw its price rise 0.4 percent to CNY 56,030 ($8,858) per metric ton. At CNY 57,000 ($9,011), the price of Chinese copper bar finished the market day up 0.2 percent per metric ton. The Chinese primary copper cash price gained 0.2 percent to finish at CNY 57,200 ($9,043) per metric ton.

The 3-month price of primary copper rose 0.2 percent on the LME to $7,679 per metric ton after a two-day drop. The price of primary cash copper on the LME has been on the decline for seven days and is now at $7,708 per metric ton.

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